August19,2002

On Monday, August 26, Congressman Adam Smith (D-09) will hold a town hall meeting to discuss current Congressional efforts to tackle corporate responsibility.

In late July, the House of Representatives passed, by 412-3, tough corporate reform legislation to create a strong, independent oversight board, increase civil and criminal penalties on corporate wrongdoers. The passage of the Public Company Accounting Reform and Investor Protection Act was an important step forward in restoring investor confidence in our economy, but is by no means the last.

Congressman Adam Smith continues to call for effective legislation on corporate governance and accounting, which must be enacted to restore investor confidence and firmly lift the U.S. economy out of last year’s recession. U.S. capital markets, despite being the deepest in the world, may fail to attract steady investments if the public feels there are more Enrons or WorldComs lurking in the wings.

Members of the media are invited and encouraged to attend the town hall. For further information or to speak with Smith during the day, please contact Katharine Lister at (202) 226-8454.